China to launch railway development fund

BEIJING, July 8 (Xinhua) -- The Chinese government on Tuesday unveiled a guideline on management of a fledgling railway development fund to attract private investment into the railway sector.

The China Railway Development Fund of the China Railway Corporation, will last 15 to 20 years, according to the guideline jointly compiled by the National Development and Reform Commission, the Ministry of Finance and the Ministry of Transport.

In July last year, the State Council proposed the fund to diversify the sources of railway investment and financing.